At the Beginning of the Current Fiscal Year, Surrey Corp

question 21

Essay

At the beginning of the current fiscal year, Surrey Corp.'s balance sheet showed assets of $675,000 and liabilities of $525,000. During the year, liabilities decreased by $35,000. Net Income for the year was $175,000, and net assets at the end of the year were $193,000. There were no changes in paid-in capital during the year.
Calculate the dividends, if any, declared during the year.
Calculate the total assets at the end of the year. $$\begin{array} { | l | c | l | c | l | c | l | } \hline & \mathrm { A } & = & \mathrm { L } & + & \text { SE } & \\\hline \text { Beginning } & \$ 675,000 & = & \$ 525,000 & + & ( 1 ) & \\\hline \text { Changes } & & & - 35,000 & + & + 175,000 & \text { Net income } \\\hline & & & & & - ( 2 ) & \text { Dividends } \\\hline \text { Ending } & ( 4 ) & & ( 3 ) & & \$ 193,000 & \\\hline\end{array}$$

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Definitions:

Marketing Response

The reaction of consumers or the target market to the promotional efforts of a company.

Marketing ROI

A measure of the profitability of marketing activities, calculated by dividing the net profit from a marketing initiative by its costs.

Research And Development

The investigative activities a business conducts to improve existing products and procedures or to lead to the development of new products and procedures.

Marketing Returns

The financial gains achieved from marketing activities, evaluating the effectiveness of advertising and promotional efforts.